3 Pages    1 2 3 >
 Gold correction e-wave so far
 Dec 15 2011, 12:11 AM Post #1 Member Group: Traders-Talk User Posts: 68 Joined: 29-September 03 From: Kansas Member No.: 171 From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!Wave B up was 269 dollars, a .693 retraceWave 1 of C down was 137 dollarsWave 2 of C was 100 dollars, a .73 retraceWave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).Time:Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.Thursday will be day 8 of wave 3 of C.
 Dec 15 2011, 11:34 AM Post #2 Member Group: Traders-Talk User Posts: 68 Joined: 29-September 03 From: Kansas Member No.: 171 QUOTE (cedartree @ Dec 15 2011, 01:11 AM) From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!Wave B up was 269 dollars, a .693 retraceWave 1 of C down was 137 dollarsWave 2 of C was 100 dollars, a .73 retraceWave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).Time:Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.Thursday will be day 8 of wave 3 of C.If we can hold this double bottom area around 1545, then we can possibly have a descending flat bottom triangle, with a D up and E down still to come. In this case the C wave is composed of only 3 waves. Another support for this possibility is that \$28.00 is the bottom tine of my silver pitchfork on the daily chart. We got down there last night and it is still holding here on Thursday morning.
 Dec 15 2011, 11:44 AM Post #3 Member Group: Traders-Talk User Posts: 1335 Joined: 11-September 03 From: Central America Member No.: 55 QUOTE (cedartree @ Dec 15 2011, 01:11 AM) From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!Wave B up was 269 dollars, a .693 retraceWave 1 of C down was 137 dollarsWave 2 of C was 100 dollars, a .73 retraceWave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).Time:Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.Thursday will be day 8 of wave 3 of C.cedartree:Your Count? (except I have top at 1,917):And a more complex alternative if this Wave C bottoms before 1,516:stubaby -------------------- GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List
 Dec 15 2011, 01:47 PM Post #4 lasergirl Group: TT Patron+ Posts: 3693 Joined: 4-September 04 From: San Francisco, CA Member No.: 2373 I believe we are nearing the completion of a 20-week corrective decline, that started in late August 2011 ... and will complete by the end of this year. -------------------- "Daytrading -- An Extreme Sport !"
 Dec 15 2011, 02:19 PM Post #5 Member Group: Traders-Talk User Posts: 1564 Joined: 1-October 03 From: Athens, Greece Member No.: 231 Beta:McClellan speaks of a 13.5 month cycle bottomoning in the end of next quarter.Terry Laundry has a similar bearish forcast for early next year.Too early to tell, I have started following the Gold's lease rates to see the possibility of bottoming so soon.stubaby:My hat off to you for stating that 12/08 would be a high and not a low.Advance inside information from Mario Draghi perhaps?-tria -------------------- In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO. "You miss 100% of the shots you don't take."~ Wayne Gretzky
 Dec 15 2011, 03:08 PM Post #6 Member Group: Traders-Talk User Posts: 68 Joined: 29-September 03 From: Kansas Member No.: 171 QUOTE (stubaby @ Dec 15 2011, 12:44 PM) QUOTE (cedartree @ Dec 15 2011, 01:11 AM) From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!Wave B up was 269 dollars, a .693 retraceWave 1 of C down was 137 dollarsWave 2 of C was 100 dollars, a .73 retraceWave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).Time:Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.Thursday will be day 8 of wave 3 of C.cedartree:Your Count? (except I have top at 1,917):And a more complex alternative if this Wave C bottoms before 1,516:stubabyStubaby, Thank you for posting such accurate charts of my two possible counts. Your use of 1917 for the top would make my A wave 24 days instead of 15. Now I notice that my time counts are all wrong! This is what they should be:Wave A: 15 or 24 trading days (1923 or 1917 top)Wave B: 32 daysWave 1 of C: 8 daysWave 2 of C: 9 daysWave 3 of C: 8 days ( as of 12/15)
 Dec 15 2011, 03:37 PM Post #7 Member Group: Traders-Talk User Posts: 586 Joined: 2-September 07 Member No.: 6245 Hi,just discovered this site:http://www.tradinglounge.com.au/TradingBlo...03/Default.aspxif you scroll down a bit, they got some charts with EW counts on gold.Might be of interest to some here.gis -------------------- If you can't buy Happiness, STEAL IT!
 Dec 15 2011, 04:41 PM Post #8 Member Group: Traders-Talk User Posts: 68 Joined: 29-September 03 From: Kansas Member No.: 171 QUOTE (gismeu @ Dec 15 2011, 04:37 PM) Hi,just discovered this site:http://www.tradinglounge.com.au/TradingBlo...03/Default.aspxif you scroll down a bit, they got some charts with EW counts on gold.Might be of interest to some here.gisThanks, gismeu. Peter seems to have the same count so far. I don't know what time zone he is in, but his posts are a whole week ahead of us!
 Dec 15 2011, 10:15 PM Post #9 Member Group: Traders-Talk User Posts: 586 Joined: 2-September 07 Member No.: 6245 [/quote]Thanks, gismeu. Peter seems to have the same count so far. I don't know what time zone he is in, but his posts are a whole week ahead of us! [/quote]Who is Peter please?Thanks, gis -------------------- If you can't buy Happiness, STEAL IT!
 Dec 15 2011, 11:47 PM Post #10 Member Group: Traders-Talk User Posts: 68 Joined: 29-September 03 From: Kansas Member No.: 171 Who is Peter please?Thanks, gis[/quote] I think that Peter is the author of the blog(from down under in Australia). I guess that he prefers to trade our markets utilizing CFD's...a trading vehicle that much of the world uses, but our SEC has not yet approved for our use.

 3 Pages    1 2 3 >

 Lo-Fi Version Time is now: 26th November 2015 - 12:41 PM